Trader's Highlight

DJI-NEW YORK, Jan 21 (Reuters) - U.S. stocks jumped on Wednesday, rebounding from a two-month low, after a surprisingly healthy earnings report from IBM fueled optimism
that technology may fare better than other sectors during the recession.

The Dow Jones industrial average <.DJI> gained 279.01 points, or 3.51 percent, to 8,228.10. The Standard & Poor's 500 Index <.SPX> rose 35.02 points, or 4.35 percent, to 840.24. The Nasdaq Composite Index <.IXIC> climbed 66.21 points, or 4.60 percent, to 1,507.07.

NYMEX-NEW YORK, Jan 21 (Reuters) - U.S. crude oil futures ended more than 6 percent higher on Wednesday as the dollar's weakness prompted buying.

On the New York Mercantile Exchange, March crude settled up $2.71, or 6.64 percent, at $43.55 per barrel, moving from $40.24 to $43.70, the highest since Jan. 7's $49.09.

CBOT-SOYBEANS - March up 28-1/2 cents at $10.20-1/2 a bushel. Supported by technical buying and worries that dry weather in Argentina damaging the crop there. Export inspections data also added strength to the market.

CBOT-SOYOIL- March up 0.14 cent at 33.95 cents a pound. Supported by rally in soybeans. Choppy trade in crude oil providing little direction.

FCPO-JAKARTA, Jan 21 (Reuters) - Malaysian crude palm oil futures ended 1 percent lower on Wednesday, extending the previous day's losses due to concern about falling exports, traders said.

The benchmark April contract on the Bursa Malaysia Derivatives Exchange was down 18 ringgit, or 0.99 percent, to 1,809 ringgit ($501) a tonne, coming off intra-day low of 1,792 ringgit.

Other traded contracts dropped between 16 and 45 ringgit. Overall volume was at 12,019 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Jan 21 (Reuters) - Stocks in Southeast Asia extended
falls on Wednesday as signs of trouble in global financial sector continued to hold back appetite for equities, pushing down blue chips in the region such as Singapore's DBS and Thailand's PTT.

Singapore's benchmark index <.FTSTI> dropped for a second straight day to end down 1.1 percent, with lender DBS off 1.3 percent. The index sank to its lowest in more than one month in early trading after the government said the city-state
was in its worst recession ever.

Malaysian shares <.KLSE> fell for a seventh day running, ending 0.8 percent lower, while Thai stocks <.SETI> fell 0.5 percent.

Indonesian shares <.JKSE> dropped 1.7 percent, the Philippines <.PSI> was down 3.1 percent and Vietnam <.VNI> ended 0.9 percent lower.